Banking and Finance

Problem Statement

Most Banks and financial Institutions are still reluctant to fully embrace the online services business model. This inertia stems mainly from the fear that critical information on the customers and their accounts may be compromised in some way when using a business procedure based on a PC connected over the Internet.

The fact of the matter is that web-based financial transactions have been shown to be inherently insecure and to have to heavily rely on the customer PC's configuration and security settings. In fact, when using a standard web browser to access online services over Internet, there are strong chances of leaving traces about passwords, personal and confidential data or session details. As a consequence, some online banking systems now require customers to follow complex and lengthy login procedures, aimed at securing mostly the authentication and identification steps. In other cases, the access to the online banking environment is allowed only from some previously certified PC's, thereby strongly restricting the availability of the services.

Because of these security and usability limitations, large sectors of the financial services industry have been slow to embrace online technologies for automating the traditional paper-based processes and services. Phone, fax, courier, and overnight mail are still relied upon to deliver confidential information or trading instructions. This is a clear sign that the financial services sector has still not taken full advantage of the growth potential that Internet and online business models have delivered to other markets.

The e-Capsule™ Banking Solution

The e-Capsule™ Banking Solution provides the long awaited break-through approach to allow providers of financial services to fully embrace the online business model. Here are some of the key advantages of the e-Capsule™ Banking Solution:

ATM Card Access Model

To securely access the bank or financial institution, all the end users will ever need is stored in their personal USB Access Token, the online equivalent of the traditional ATM banking card. This will assure that the security of the online session will not rely on the local PC's configuration or internal connection settings.

No installations, no special drivers, no certificate downloads to the PC are ever required. What this means is that the access to the online financial services will be possible from any Internet enabled PC. Whether from home or working from a hotel, an airport hot-spot or an Internet cafe, the online session's security assurances will always be the same, i.e. the strongest available today from the security industry.

360° Session Security

The security of the online financial transaction is seamlessly and automatically secured from all possible angles:

• The data transfers between the PC and the provider occurs over an encrypted_channel established and enforced by an application launched from the personal USB Access Token.
• The access to the online resources requires the knowledge of a set of unique identification credentials associated to each different USB Access Token.
• All instructions and reports generated and exchanged during the online session are encrypted at the PC level and stored encrypted at both ends.
• The online encrypted chat module allows customers to exchange information or give instructions in real time to their account managers.
• Digital signature technology grants non-repudiation assurances on the session contents.
• Action logging provides a detailed audit trail to prove which information has been disclosed.
• Zero-footprint technology assures that no traces of the online session are left on the local PC

In summary, the e-Capsule™ Banking Solution opens the Internet to the secure exchange of highly sensitive financial information, allows to speed financial processes and reduces the risks and costs of online banking.

Request more information

For more information about e-Capsule™ products for Banking and Finance, contact us.